DR Congo Economic Forecast

DR Congo Economic Outlook

July 21, 2020

The economy was likely hard hit during the first half of the year by the outbreak of the Covid-19 pandemic and the state of emergency declared by the government in late March to stem its spread. In particular, the key mining industry, which comprises about a third of the country’s output and near totality of export revenue, likely reeled amid lockdown measures put in place and the severe fall in demand, primarily from China. Slumping prices for the country’s main export commodities, particularly of cobalt which has seen a nearly 20% drop since February, exacerbate matters. To mitigate the economic fallout from the pandemic, in the latter half of June President Felix Tshisekedi launched a nine-month, USD 2.6 billion multi-sectoral emergency program, with the bulk of funds set to be mobilized by private actors.

DR Congo Economic Growth

The economy is seen shrinking notably this year due to weaker activity in the all-important mining sector, pullback in foreign demand and lower base metal prices. An increase in unemployment and underemployment, which, coupled with higher inflation, will erode household purchasing power and weigh heavily on consumption. FocusEconomics panelists project GDP contracting 2.5% in 2020, which is down 0.4 percentage points from last month’s forecast. For 2021, the panel sees growth at 3.0%.

DR Congo Economy Data

2015 2016 2017 2018 2019
Population (million)-  -  -  -  -  
GDP per capita (USD)-  -  -  -  -  
GDP (USD bn)-  -  -  -  -  
Economic Growth (GDP, annual variation in %)-  -  -  -  -  
Fiscal Balance (% of GDP)-  -  -  -  -  
Public Debt (% of GDP)-  -  -  -  -  
Inflation Rate (CPI, annual variation in %)-  -  -  -  -  
Exchange Rate (vs USD)-  -  -  -  -  
Policy Interest Rate (%)-  -  -  -  -  
Exchange Rate (vs USD, aop)-  -  -  -  -  
Current Account (% of GDP)-  -  -  -  -  
Current Account Balance (USD bn)-  -  -  -  -  
Trade Balance (USD billion)-  -  -  -  -  
Exports (USD billion)-  -  -  -  -  
Imports (USD billion)-  -  -  -  -  
Exports (annual variation in %)-  -  -  -  -  
Imports (annual variation in %)-  -  -  -  -  
International Reserves (USD)-  -  -  -  -  
External Debt (% of GDP)-  -  -  -  -  

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DR Congo Facts

Value Change Date
Exchange Rate1,687-0.78 %Jan 01
Stock Market0.60.0 %Jan 07

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